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Asking Price$920,000
RevenueUndisclosed Established2003
Cash FlowUndisclosed Employees0 full-time
FF&E$19,000* FranchiseNo
Inventory$1,000* RelocatableNo
Real Estate$850,000* Home-basedYes
* Included in Asking Price
This vacation rental business, which is located on a 2 acre wooded lot in west Ottawa, Ontario, the capital of Canada, will buy you this property. The business and property (fully furnished house and apartment with appliances) are being sold as an on going operation with no down time and no lost rental business.

The business requires part time effort but the business income covers all of the business operating expenses (advertising, supplies, heat, hydro, VIP cable TV, internet, maintenance and repair), all of the direct property expenses (insurance, property taxes, utilities, maintenance and repair), all of the mortgage interest expense and, depending on the operating mode, most, if not all, of the mortgage principal payments and one time maintenance and repair expenses.

The best financial results are for owners who operate the business and maintain the property. They can live in the apartment cost free or rent out the apartment for additional income. Absentee owners still get good results but have the additional cost of hiring personnel to operate the business and maintain the property.

The apartment has its own entrances and is totally separate from the rental house. Guests enjoy total privacy in the fully furnished home. The main floor has a fully equipped kitchen, dining room, living room with a 55 inch TV & home theater system, bedroom, family room with wood fireplace, eating room, laundry room and powder room. The second floor has 2 large master suites with ensuite bathrooms, 2 guest bedrooms and a full bathroom. The main floor also has a sun room with a heated indoor pool, cedar lined sauna, large dual head steam room and powder room. The basement has a private bedroom, an open concept 7th bedroom and some exercise equipment. Additional features include a wireless router, high speed internet, VIP cable TV service, private house phone, central air conditioning, gardens and outdoor patio with propane BBQ & furniture (in season).  There is also a separate apartment over the 3 car garage where the present owners live. There is a kitchen, dining area, living room with gas fireplace, 2 bedrooms, bathroom, powder room, laundry room and large balcony with furniture and propane BBQ.
Facilities:Located 25 minutes from downtown Ottawa, this property consists of a 2 story main house (~4000 sq. ft. finished area), an in law apartment over the attached 3 car garage (~1100 sq. ft.), an attached sun room with a heated pool, sauna and steam room (~1000 sq. ft.) and a 400 sq. ft. storage shed which could be used as a garage. The exterior of the house/apartment/garage is brick and the sun room has vinyl siding. The house has hardwood/granite/ceramic flooring, granite kitchen counters, granite/marble/ceramic bathroom counters, a stunning granite fireplace and granite and marble furnishings (eating table, coffee/end tables, planters, pedestals). The house has a natural gas furnace & hot water tank (new in 2012), a 2008 central air conditioning unit, a central vacuum system, a monitored alarm system & a wood burning fireplace. The pool area can be locked off from the house and has a 2012 natural gas pool heater, a 2004 gas furnace and a 2004 pool room HRV for humidity control. The house heating/cooling ducts run into the apartment. The apartment has its own alarm panel which operates separately from the house alarm and a central vacuum system. The house is fully furnished: 7 bedrooms with queen size beds, bureaus, chairs, etc.; living & family room with couches, chairs, tables and TVs; dining room with table, chairs, hutch and sideboard; kitchen with stainless steel oven, fridge and dishwasher plus microwave, island cook top, coffee maker, toaster, etc.; laundry room with 2010 HE washing machine, large capacity dryer & sink; eating room with octagonal granite table, chairs, computer desk with computer system & wireless router; pool room with glass table & chairs and wicker style chairs & couch; patio with propane BBQ, table & chairs; basement exercise room with elliptical machine, weight machine & hand barbell set. The house is fully equipped with towels, 2 sets of bed linens per bed, duvets, blankets, kitchen dishes, glasses and cutlery for 16 guests.
Competition:As many of our guests have said, this property is unique. It can accommodate a large number of overnight guests and day visitors with lots of room to spare. The heated indoor pool, sauna and steam room is something that is hard to find in rental units and is definitely one of the reasons guests come to this property. There are a number of B&Bs, small condos, etc. available in the Ottawa area but these are not really competition since our average groups range from 7-12 guests and very few locations can accommodate this number of people.
Growth Potential:This business requires 45-55 days/year to operate. Easily operated by people with other jobs or commitments or as a turn key operation. The present owners live in the apartment and rent out the main house to guests. The property is listed on a number of vacation rental sites and many of our rentals are guests who are traveling in a group for weddings, family reunions and getaways for friends and families. Larger groups make good use of the house and maximizes the rental income. Guest comments in the guest book have been extremely positive- especially regarding the indoor pool area and the spaciousness of the open concept of the main floor. which makes it easy for the guests to visit each other. Vacation rental web sites are where most guests find the property and they come from all parts of the world. New owners could continue the present mode of operation or operate a more traditional B&B by living in the house. This would attract a different type of guest but might be a successful operating mode. Current owners have not changed prices for 3 years due to the global financial problems and have had excellent growth since the start of the world financial turmoil. Weddings, family reunions and family vacations occur even in bad times as sales have shown.
Training/Support:Very easy business to operate. Present owners will assist as required to ensure that there is no interruption in availability since this is an on going business
Seller Financing:None
Sale Reason:Retiring
Ad #40288
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